This paper analyzes the effects of the New Source Review (NSR) environmental regulations on coal-fired electric power plants.  Regulations that grew out of the Clean Air Act of 1970 required new electric generating plants to install costly pollution control equipment but exempted existing...

We analyze the effects of the New Source Review (NSR) environmental regulations on coal-fired electric power plants. Regulations that grew out of the Clean Air Act of 1970 required new electric generating plants to install costly pollution control equipment but exempted existing plants. Plants...

Vintage-differentiated regulations (VDRs) are standards that are fixed with respect to the date of entry of regulated units, with later vintages facing more stringent standards. VDRs play prominent roles under major Federal, state, and local environmental laws. This paper synthesizes what is...

Researchers have long been interested in whether environmental regulations discourage investment, reduce labour demand, or alter patterns of international trade. But estimating those consequences of regulations requires devising a means of measuring their stringency empirically. While creating...

Carbon taxes are commonly seen as a rational policy response to climate change, but little is known about their performance from an ex-post perspective. This paper analyzes the emissions and cost impacts of the UK CPS, a carbon tax levied on all fossil-fired power plants. To overcome the problem...